Arrow Capital Partners has been appointed by Cerberus Capital Management to help manage a €750m Spanish light industrial and logistics portfolio.
The portfolio will be managed by Arrow Capital’s Spanish team led by Howard Barnes, formerly head of development at Talus Real Estate.
The real estate group said it has been appointed by an affiliate of Cerberus to assist in the management of over 1,000 light industrial and logistics assets totalling around five million square meters.
Robert Falls, managing director at Cerberus European Servicing, said: “We are pleased to be partnering again with the team at Arrow Capital Partners to assist us with the management of our industrial portfolio in Spain.
“We’ve developed a great relationship with Arrow Capital Partners over the years through various European mandates and we look forward to leveraging their expertise and capabilities in the Spanish market.”
Christian Bearman, partner, head of Europe at Arrow Capital Partners, said: “It’s great to be continuing Arrow Capital Partners’ momentum in Europe with our appointment on this mandate in Spain with Cerberus.
”We welcome Howard and our team in Spain to the group. There are few operators with as much experience and knowledge of this sector in the market as Howard.”
Barnes, said: “As the Spanish economy continues to recover from the financial crisis, we are seeing some excellent entry opportunities, particularly for us as we are looking to acquire light industrial and logistics assets of over €200m in the next year or so.
”As growth in Spain’s e-commerce sector continues off a low base, a marked supply/demand imbalance has developed in the light industrial and logistics sectors, increasing rents and capital values.”